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20110701
20110731
Search Results 0 to 12 of about 13 (some duplicates have been removed)
very big, very substantial to bring our long-term deficits down over time. we have to do that in a way that's good for the economy for more support because the economy is healing from the recession. it's going to require both sides to compromise. president's bringing leaders together again at the white house this evening to try to figure out how to move forward. >> what's he actually saying? because you're hearing boehner saying they're demanding tax increases, we're not going to do that. they've also said you were pedalling a bid on whether to cut entitlement programs like medicare or social security. what's the fact? >> that latter thing is not true. the president is standing tough. he is willing to do very, very difficult things. >> like what? on medicare? >> like getting substantial savings from the budget, across the budget. defense, the rest of government, even medicare/medicaid over the long term, there are things we can do responsibly to save money in those programs and we have to do that to bring the deficits under control. but to do that, we have to have some shared sacrifice
with the speaker of the house was a big deficit reduction package that wouldn't have a supercommittee. we would have done it right now. that wasn't possible. the speaker of the house pulled by the right wing of his party, walked away from it. but the president's going to be committed over these next few months, as i think members of congress need to be as well, that we need to finish the job here, and the way you're going to finish that job is to have a balanced deficit reduction package that doesn't harm the economy. >> let me ask you some other pressing matters. i've spoken to top figures on wall street who say this is a code red day, all hands on deck, preparing for a market shock as early as tomorrow. what is your message? what is the president's message to investors around the globe this morning? >> well, i think it is that we have to get this solved. today is obviously a critical day. we have to give confidence that there is a pathway to make sure that we both reduce the debt ceiling, and let's not underestimate the deficit reduction is an important part of this, so i think -- >> but that
. >> so, you think a grand bargain, the big deal the president is pursuing, $4 trillion in cuts over ten years, is it still possible or is it dead? >> we're going to try to get the biggest deal possible, the deal that's best for the economy, not justice in the short term, things that will help make sure americans get some tax relief they need right now, like extending the payroll tax cut, which is about $1,000 for the average family, but also things that will help make sure we have room to invest in our future and help bring those long-term deficits down over time. >> let me understand a couple bottom lines. does a tax increase, some kind of revenue increase, have to be part of this deal from the white house point of view? >> you have to have balance in the package for that to work. it's true economically and politically. republicans have told us from the beginning, they can't pass a debt limit increase, they can't pass a budget deal just with republican votes. they need democratic votes. it's going to take democrats and republicans in both houses to do something. that's the reason why p
Search Results 0 to 12 of about 13 (some duplicates have been removed)